Newland Digital Technology (SHE:000997) established a wholly-owned US subsidiary named NovaPay.
The move aims to enhance cross-border payment infrastructure, integrate resources and strengthen overseas regulatory compliance, according to a Wednesday filing with the Shenzhen bourse.
NovaPay has obtained a money services business (MSB) license from the Financial Crimes Enforcement Network.
Shares of the digital payments company closed 1% higher Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.